Monday, October 19, 2009

Global funds to focus corporate governance

GLOBAL investment funds are expected to pay more attention to corporate governance in Malaysia in line with their focus on investments in the country and the rest of Asia.

Secretary general of the Asian Corporate Governance Association, Jamie Allen, said the funds were expected to intensify their focus on Malaysia in the next few years.

"While Malaysia has made significant progress in terms of corporate governance, particularly in terms of better regulation, there are still areas that can be further improved," he said at a seminar on ''Governance Expectations of International Fund Managers'' organised by Bursa Malaysia in Kuala Lumpur today.

Allen said global investors looked forward to better information being given to make decisions during shareholders'' meetings.

"One of the problems is that investors do not get enough information, like the complete biodata of director."

"Another area that needs improvement is the voting system at companies'' meetings," he said.
He said voting by poll rather than through show of hands was better as it would promote efficiency and corporate governance.

Source: Business Times

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